Scott Bessent: Fixing the Fed, Tariffs for National Security, Solving Affordability in 2026

Secretary Bessent, welcome back to All In. We appreciate you taking the time to catch up with us and provide this first year in review. We're excited to have you here and hear how things are going and what's ahead regarding the fiscal condition of the US government, the economic condition of the US economy, including how things are going for Wall Street and Main Street. And finally, we'd like to broadly discuss some of the administration's policies, decisions, and how they're playing out or will play out from your point of view. I'll start us off and maybe to catch up on our last conversation, one of the things that I've cared deeply about and which you shared an objective around is getting the budget deficit below 3% of GDP.

I'd love to hear from your point of view how that's going and how things are looking for fiscal year 26. the actions that have been taken and and what you think is ahead for that target. Good to be with you. Happy to review the year, talk about next year. There's a lot going on.

I would categorize 2025. We had some important victories, some important policy announcements, some important movement, but I I as I've described it, 2025 was setting the table. And I, especially on the economy, I think the the feast and the banquet is going to be in 2026. To start with the budget deficit, we didn't get much credit because it came out during the shutdown. The U.S.

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